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In this morning's headlines: Detroit bankruptcy, tax break car trade in, medical marijuana bill

Morning News Roundup, Thursday, Oct. 13, 2011
User: Brother O'Mara
Morning News Roundup, Thursday, Oct. 13, 2011

Michigan Treasurer to take stand in Detroit bankruptcy trial

"Detroit's bankruptcy trial is entering its eighth day with the return of former Michigan Treasurer Andy Dillon to the witness chair. Dillon has been a witness for unions and pension funds challenging Detroit's eligibility to remake itself in bankruptcy court. He says he supports the bankruptcy, but a July email shows he was concerned that the city wasn't doing enough with creditors before the filing," the Associated Press reports.

Bill could let pharmaceutical companies produce and distribute medial marijuana

"Pharmaceutical companies would be one step closer to producing and distributing medical marijuana in Michigan under legislation in Lansing. A state Senate panel has approved the bill. The legislation would only take effect if the federal government approves regulating marijuana as a prescription drug in the future," Jake Neher reports.

Tax break for car trade ins

"Michiganders who trade in old cars, boats, and R-Vs for new ones will get a tax cut starting next month. Governor Rick Snyder signed bills yesterday that would subtract the trade-in value of old vehicles from the taxable value of the new ones," Jake Neher reports